"Have you met the cretins we have in Westminster? Do you think we can be worse than that?" --- Nigel Farage

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Tuesday, 10 September 2013

The value of nothing

I was struck by a claim at the BBC enquiry yesterday. In a typical piece of obfuscation Mark Thompson claimed that in laying off 227 managers in three years the BBC says it has spent £25 million over 3 years but saved £35 million in wages in the same period, and had thus saved money which is a good thing.

Maybe, but that isn't the whole picture because in saving £10 million the BBC loses up to 3 years of work per person, so it only makes a real saving if you assume that the work of those 227 senior managers had a value of less than £15,000 per year per person. Which makes you wonder why they were paid so much in the first place.

1 comment:

This is about wages. But what about the expenses? A cavalry squadron of top brass would be very heavy on the expenses. Also, all the other incidentals such as office space, IT backup and all that. This lot cost a lot extra to run on top of their wages.

About Me

Alex is an experienced investment banker working in London's Docklands. He is obsessed with personal status, with his work coming second and his family a distant third. His commitment to status requires him to have all of the latest professional gadgets, including an iPad, a BlackBerry and a 4G mobile phone. Alex usually works for Rupert Sterling at Megabank, but has, in the past, worked for Mr Hardcastle as his Head of Corporate Strategy.

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